Schrodinger (NASDAQ:SDGR) Trading 9.7% Higher – Here’s Why

Schrodinger, Inc. (NASDAQ:SDGR) rose 9.7% during mid-day trading on Monday . The company traded as high as $20.77 and last traded at $20.8650. Approximately 965,092 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 1,299,966 shares. The stock had previously closed at $19.02.

Analyst Upgrades and Downgrades

SDGR has been the subject of several recent research reports. UBS Group initiated coverage on Schrodinger in a research report on Friday, August 14th. They issued a “neutral” rating and a $19.00 price target for the company. Weiss Ratings upgraded shares of Schrodinger from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. Finally, Wall Street Zen raised shares of Schrodinger from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Schrodinger currently has a consensus rating of “Hold” and an average target price of $20.50.

Schrodinger Stock Up 12.0%

The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -31.42 and a beta of 1.69. The stock’s 50 day moving average price is $17.83 and its two-hundred day moving average price is $14.88.

Schrodinger (NASDAQ:SDGR) last posted its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.49. Schrodinger had a negative net margin of 20.98% and a negative return on equity of 16.37%. The company had revenue of $58.89 million during the quarter, compared to the consensus estimate of $47.19 million. During the same period in the previous year, the firm posted ($0.65) earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts predict that Schrodinger, Inc. will post -1.5 earnings per share for the current fiscal year.

Institutional Trading of Schrodinger

Several hedge funds and other institutional investors have recently bought and sold shares of SDGR. Handelsbanken Fonder AB increased its position in shares of Schrodinger by 6.3% in the fourth quarter. Handelsbanken Fonder AB now owns 15,200 shares of the company’s stock valued at $272,000 after buying an additional 900 shares in the last quarter. Kestra Advisory Services LLC grew its stake in Schrodinger by 2.0% in the 1st quarter. Kestra Advisory Services LLC now owns 51,429 shares of the company’s stock valued at $584,000 after acquiring an additional 1,002 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Schrodinger by 722.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,374 shares of the company’s stock worth $25,000 after acquiring an additional 1,207 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Schrodinger by 5,025.8% in the 4th quarter. Hantz Financial Services Inc. now owns 1,589 shares of the company’s stock worth $28,000 after acquiring an additional 1,558 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Schrodinger by 15.8% during the fourth quarter. Stephens Inc. AR now owns 12,618 shares of the company’s stock worth $226,000 after acquiring an additional 1,724 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.

About Schrodinger

Schrödinger, Inc develops computational software designed to accelerate drug discovery and materials science research. Its platform uses physics-based modeling, machine learning and related computational methods to help scientists analyze molecular structures, predict interactions and identify potential compounds for further development.

The company’s software products support a range of research activities, including molecular modeling, virtual screening, structure-based drug design, free-energy calculations and collaborative data management.